Termination During Transition Period Sample Clauses

Termination During Transition Period. If a Change in Control occurs during the Term and Executive’s Termination Date occurs on the date of the Change in Control or during the Transition Period, and if such termination is a Qualifying Termination, then the Company or the Bank shall provide to Executive the following severance payments and benefits: (i) Payment of a cash amount equal to two (2) times the sum of (A) the Executive’s annualized base salary as of the Termination Date (or, if Executive voluntarily resigns for Good Reason because the Company reduced Executive’s annual base salary by more than 10%, the Executive’s annualized base salary immediately before such reduction), and (B) an amount equal to the Executive’s target annual incentive bonus for the calendar year in which the Termination Date occurs, less applicable withholdings. Such amount shall be payable to the Executive by the Company or the Bank in a lump sum on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days after the Termination Date. (ii) If Executive was enrolled in a group health and dental plan sponsored by the Company or Bank immediately prior to the Termination Date, payment of a lump sum amount equal to 24 times the monthly amount the Company or the Bank expends immediately prior to the Termination Date for its share of the premiums for health and dental insurance coverage for Executive and Executive’s eligible spouse and dependents, less applicable withholdings. Such lump-sum payment will be paid to Executive at the same time as the payment specified in Section 3(b)(i). (iii) Payment of a lump sum amount equal to 24 times the monthly amount the Company or the Bank expends as of the Termination Date for its share of the premiums for 24 months of life and disability insurance coverage for the Executive under the Company’s or Bank’s then current plans for employees, less applicable withholdings,. Such lump-sum payment will be paid to Executive at the same time as the payment specified in Section 3(b)(i).
Sample 1
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Termination During Transition Period. In the event the Company terminates Executive’s employment without Cause during the Transition Period and such termination constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”), the Company will pay Executive a lump sum severance payment equal to two years of Executive’s Base Salary, as then in effect, subject to Executive’s execution of a general release of claims in a form substantially similar to the form attached hereto as Exhibit A (the “Release”), as set forth in Section 7(g) below.
Sample 1
Termination During Transition Period. The retention of Executive as a consultant under this Agreement shall terminate upon the occurrence of any of the following, subject to the provisions of Section 5. For avoidance of doubt, any termination of employment of Executive prior to the Transition Date for any reason shall be governed by the Executive Severance Agreement, and upon any such termination, the provisions of this Agreement shall be of no further force or effect.
Sample 1
Termination During Transition Period. As mentioned above, the terms of your ECA shall remain in place during the Transition Period and the parties retain their rights to terminate the Senior Advisor relationship prior to the end of the Transition Period set forth in paragraph 2. Notwithstanding the foregoing, in the event of a termination of your employment during the Transition Period, if such termination is a termination described in Sections 2.4 – 2.7 of the ECA, the “Severance Payment” for the applicable termination is hereby amended to mean an amount equal to the amount of base salary in effect as of the date of this Letter Agreement payable to you between the date of any such termination and the last date of the Transition Period and any “Prorated Bonus” is hereby amended to mean the amount described above in paragraph 2 which, for the avoidance of doubt, would be payable in the case of a termination under Section 2.7. No Outplacement Services or Health Insurance Continuation would be payable in the event of a termination of employment, for any reason, during
Sample 1
Termination During Transition Period. Employee’s employment with the Company shall automatically terminate before the Final Date in case of Employee’s death or Disability. In addition, Employee may voluntarily terminate employment with the Company before the Final Date upon written notice to the Company. The Company may also terminate Employee’s employment before the Final Date immediately for Cause. In each such case, Employee shall be entitled to receive only the Accrued Obligations.
Sample 1
Termination During Transition Period 
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Related to Termination During Transition Period

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Employee leaving during notice period An employee given notice of termination in circumstances of redundancy may terminate their employment during the period of notice. The employee is entitled to receive the benefits and payments they would have received under this clause had they remained in employment until the expiry of the notice, but is not entitled to any payment in lieu of any remaining notice.

  • Time off during notice period During the period of notice of termination given by the employer, an employee shall be allowed up to one day's time off without loss of pay for the purpose of seeking other employment. This time off shall be taken at times that are convenient to the employee after consultation with the employer.

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Employee Leaving During Notice An employee whose employment is to be terminated for reasons set out in this clause may terminate employment during the period of notice and, if so, shall be entitled to the same benefits and payments under this clause had the employee remained with the employer until the expiry of such notice. This is with the provision that in such circumstances the employee shall not be entitled to payment instead of notice.

  • Duration/Termination 1. This License Agreement is concluded for an indefinite period, subject to termination in accordance with the provisions of article 6.2 and 6.

  • Allocations During the Controlled Accumulation Period During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 1997-1 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 1997-1 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (such product for any such date, a "Percentage Allocation") shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Non-Competition During Employment Executive agrees during the Basic Term, and any extension of the Basic Term under this Agreement, he will not compete with the Company by engaging in the conception, design, development, production, marketing, or servicing of any product or service that is substantially similar to the products or services which the Company provides, and that he will not work for, in any capacity, assist, or became affiliated with as an owner, partner, etc., either directly or indirectly, any individual or business which offer or performs services, or offers or provides products substantially similar to the services and products provided by Company.

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